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Alright gonna be a kinda long post.
Been trading for a little over 5 years. So i have ‘some’ skin in the game.
What led me here, is i finally hit an all time loss im finally not okay with. -15k all time.
Quick background on me. I’m currently 32 years old. I’m in recovery from drugs & alcohol since 6-10-16. Worked the same full time gas station job this whole time since Covid. Live with my dad rent free. Car repoed last year. I’ll touch on all this below. I only make 30k a year. So yeah, -15k isn’t a lot to most, but for someone living borderline poverty, pulling only 500 a week; it can be life changing money.
My boy put me on ‘options’ right after the GME squeeze. I’m not exactly sure if he hit on GME or just showed me. But i know he showed me some winning trades and i wanted to get put on. And of course i was instantly hooked like everyone else. I started in Feb 2021. So i was there and part of the AMC squeeze. I should have learned paper trading or trading shares as always recommended, but my hard headed ass went straight to the sharks.
My strategy:
Super far OTM 0dte. I had no strategy. They’ve always said it takes money to make money, and i always hated that saying. I tried to disprove everybody and thought i could truly make it out of the trenches by buying 1-2% OTM 0dte everyday. And compound from there. I turned 100 to 1k 3 times and of course lost it all miserably every time. Obviously here and there i would have my winners and bangers. But it clearly wasn’t sustainable. As the years went by, it progressed (as any addiction, duh. I should know, living it first hand with drugs & alcohol) I know the Greeks. I know delta and theta and gamma. I’d literally trade with 50$ or less. At least in recent years. Buying contracts for .10 to .20 a piece. Equating to literally 1-2% OTM. I know i didn’t need my strikes to hit by 4pm. I learned breakeven a long time ago. That was never my intention bc i knew my strikes would never hit. My strategy was just get a volatility spike in either direction and sell. Sometimes i would, other times id be up huge, and lose it all due to greed.
I break every rule, but it’s easy to by playing that little amount. I ruined my life because I’d deposit all of my money, (PLAY WITH WHAT YOU CANT AFFORD TO LOSE) I’d literally play with money i couldn’t afford to lose. I pay my small obligations first. Phone bill, money to my kid’s mom, tiny bit to pay my mom back. And gamble the rest. For 5 years straight. Lived with my dad this whole time so I’m grateful i never had to pay rent. My first and only loan on a car got repoed last summer because i was so bad. I got it in late 2023- paid 2 years straight with no missed payments. And got repoed May 2025. I’ve had to take the bus for 4 months after last year to work. And same with this year since April. I had a beater car that lasted me thru the winter (thank god) but died in April. And haven’t had money to get a new one right away, obviously. The repo destroyed my credit. So I’m forced to buy used cheap shitboxes for now until i can get my credit back up. I’m finally getting another used car this week I’ve been saving 3k for since April. I shoulda had it probably a month ago as I’ve lost 1k in the last 3 months. But i finally made it.
So enough there. I know how to trade the right way, i just never had the capital for it. I don’t have a TA problem. I have a ‘small’ capital problem. More often than not, i truly get the direction correct. I just still lose as my contract is so small, it either doesn’t gain at all, or sometimes it barely gains, then goes to zero fast. Completely unsustainable.
NEW PLAN:
Get all my real life obligations in check first before i come back. Putting this car on the road I’ve saved for since April. Then I need to pay my mom off the 1k I’ve owed her since beginning 2025. (Technically was around 2k back then, but saving and working the right way coulda had her paid off in months instead of almost 2 years). And focus on getting an apartment with my girlfriend.
Then, only then, will i be able to return. But not the same way I’ve always known.
My plan is to do it the right way this time, something I’ve never done before. I’ve been recommend by several others to save up a 500$-1k balance, and trade ATM options WITH time on them. At least a few days out, a week out or more. My plan is to take 50-100% , much smaller percentage gains than I’m used to. I understand aiming for 1,000% 0dte bangers is unrealistic. I don’t want that anymore. I want to be that guy who scalps the first 30 min to an hour or whatever it is. And go on with my day. Not watching every tick from 9:30-4. Even overnight markets.
With a much bigger position value, and taking a much more realistic gain. I want to make the ‘banger’ money I’ve made in the past , but not on a crazy percentage . It will be a normal percentage because I’ll finally be using a proper, realistic amount of capital.
So yeah. This came out a little different than i expected. But i needed to get it off my chest somewhere. This will be the first time in 5 years im stepping away from the charts for a substantial amount of time. I need to get myself out of the hole I’ve been in. I’ve been so broke for 5 years im so over it. So for those of you who read this far, or can even relate. Thank you. I’ll attach photos of my 2 best gains and my all time loss. I’m open to any discussions, feedback, advice- whatever it is. If you’re struggling too, I’m hear to talk.